Fidelity Exchange Traded Products GmbH is admitting two new ETPs to trading on the Swiss stock exchange. With Fidelity's Bitcoin ETP in US dollars and Swiss francs, investors benefit from an increasing choice in the crypto segment of SIX Swiss Exchange. With Fidelity, the number of crypto ETP issuers grows to to 10, and the number of tradable crypto ETPs to 133. ETPs and Structured Products combined, investors currently have a choice of 208 products based on 18 cryptocurrencies.
Secure and Convenient Access to Bitcoin
Nick King, Head of ETFs at Fidelity, is excited about the approval of the new products: “The launch of the Fidelity Physical Bitcoin ETP is an important evolution of our exchange traded product offering and the first step in our digital assets product capability. Working with best-in-class service providers, including Fidelity Digital Assets and Brown Brothers Harriman, has allowed us to deliver an extremely robust product structure which allows our clients in Europe to obtain access to Bitcoin in a secure and convenient way.”
Fidelity International, a privately held company with a 50-year heritage, offers investment solutions and services and retirement expertise. Operating in more than 25 countries and with USD 812.8 billion in total assets. Overall, Fidelity International invests USD 610.5 billion on behalf of its clients (Data as at 31 December 2021). It is already the second new crypto ETP issuer joining the Swiss stock exchange this year and has been an issuer of Exchange Traded Funds on SIX Swiss Exchange since 2018, currently offering 23 ETFs.
Massive Growth in Crypto Products
Christian Reuss, Head SIX Swiss Exchange, notes: “Our first-class trading infrastructure and our clear framework for crypto underlyings are key reasons why clients are increasingly turning to us for crypto product listing and trading. We very much welcome Fidelity to join our ETP issuers and further expand the product range.”
The great variety of tradable crypto products on the Swiss stock exchange struck a chord with investors. Trading turnover reached CHF 8.6 bn in 2021, an increase of 673% compared with the previous year (CHF 1.1 bn). The number of transactions has increased more than sixfold too: in total, 354,542 trades were carried out in crypto products, an increase of 634% compared to 2020 (48,300).